PVC Paste Resin Market: an Economical Option for Automotive and Construction Applications
- Polyvinyl chloride or PVC is a type of resin used in the production of rubber and plastic. PVC resin is available in white color and powder form. It is mixed with additives and plasticizers to manufacture PVC paste resin.
- PVC paste resin is used for coating, dipping, foaming, spray coating, and rotational forming. PVC paste resin is useful in the manufacture of various value-added products such as floor and wall coverings, artificial leather, surface layers, gloves, and slush-molding products.
- Major end-user industries of PVC paste resin include construction, automobile, printing, synthetic leather, and industrial gloves. PVC paste resin is increasingly used in these industries, due to its enhanced physical properties, uniformity, high gloss, and shine.
- PVC paste resin can be customized as per the specifications of end-users. Furthermore, it exhibits high resistance to moisture and variations in temperature.
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Rise in Demand for Construction Products to Drive Global PVC Paste Resin Market
- Increasing demand for cost-effective construction materials in developing countries is estimated to boost the demand for PVC paste resin in these countries in the next few years. Construction materials based on PVC paste resin are replacing other conventional materials such as wood, concrete, clay, and metal.
- These products are easy to install, resistant to changes in climate, and less expensive and lighter in weight than the conventional materials. They also offer various advantages in terms of performance.
- Increase in the number of technological research and development programs related to low-cost construction materials, especially in developing countries, is anticipated to propel the consumption of PVC paste resin during the forecast period
- Consumption of PVC paste resin is expected to increase in the next few years, due to rising demand for lightweight automobiles in developing countries such as India. Governments of these countries are taking initiatives to increase the usage of electric vehicles to reduce carbon emissions. Manufacturers are looking for materials that would help reduce weight, thickness, and volume of automobile components, without harming the structural integrity and functionality of a vehicle.
- Electric vehicles are lightweight than the conventional automobiles and they have higher energy efficiency. PVC paste resin is significantly consumed to manufacture electric vehicles.
Emulsion Process Segment to Witness Lucrative Growth
- Based on manufacturing process, the global PVC paste resin market has been segmented into emulsion process and micro-suspension process
- Emulsion process is anticipated to be the leading segment of the global PVC paste resin market during the forecast period. The emulsion process is preferred for the manufacture of finer PVC materials.
- Demand for superior-quality PVC materials has been increasing among consumers. This is likely to provide lucrative opportunities to the emulsion process segment of the global PVC paste resin market during the forecast period.
High K-value Grade Segment to Hold a Significant Share of Global PVC Paste Resin Market
- Based on grade, the global PVC paste resin market can be divided into high K-value grade, mid K-value grade, low K-value grade, vinyl acetate copolymer grade, and blend resin grade
- The high K-value grade segment is anticipated to hold a major market share during the forecast period. PVC paste resin of high K-value grade is suitable in the production of high-quality coatings and flooring materials.
- PVC paste resin has the ability to withstand moisture and it has good tensile strength. This is another factor driving the global PVC paste resin market.
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Construction Segment to Hold a Leading Share of Global PVC Paste Resin Market
- Based on application, the global PVC paste resin market can be classified into automotive, construction, electrical & electronics, medical & healthcare, packaging, and others
- PVC paste resin is suitable for floor coating due to its resistance to moisture, oil, and chemicals
- Rise in infrastructure development activities in developing countries is driving the demand for PVC paste resin in the construction segment. This, in turn, is driving the global PVC paste resin market.
- Automobile is expected to be the second-largest application segment of the global market during the forecast period, followed by electrical & electronics, medical & healthcare, and packaging segments. PVC paste resin is widely used in the manufacture of medical gloves, due to its good tensile strength.
Asia Pacific to Hold a Major Share of Global PVC Paste Resin Market
- In terms of region, the global PVC paste resin market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is estimated to account for a prominent share of the global PVC paste resin market between 2019 and 2027, owing to rise in the demand for inexpensive and lighter construction materials. Growing urbanization and rising construction activities in developing countries in the region, such as China, India, Malaysia, and Indonesia, are likely to boost the PVC paste resin market in Asia Pacific during the forecast period.
- Rising demand for lightweight vehicles as well as leather-based products is driving the demand for PVC paste resin in Europe
Key Players Operating in Global PVC Paste Resin Market
The global PVC paste resin market is fragmented, with several regional and global manufacturers operating in the market. Prominent players operating in the global PVC paste resin market seek to enter into partnerships for the development of new applications of PVC paste resin.
Key players operating in the global PVC paste resin market are:
- Shin-Etsu Chemical Co. Ltd.
- Kaneka Corporation
- TPC Paste Resin Co., Ltd.
- Vinnolit GmbH & Co. KG
- Formosa Plastics Corp.
- Occidental Petroleum Corp.
- Solvay SA
- Ineos Group Ltd.
- SCG Chemicals
- The Sanmar Group
- Mexichem S.A.B. de C.V
- LG Chem
- CIRES SA
- Gogara International
- Vinnolit GmbH & Co. KG
- Tosoh Corporation
- KEM ONE
Global PVC Paste Resin Market: Research Scope
Global PVC Paste Resin Market, by Manufacturing Process
- Emulsion process
- Micro-suspension process
Global PVC Paste Resin Market, by Grade
- High K-value Grade
- Mid K-value Grade
- Low K-value Grade
- Vinyl Acetate Copolymer Grade
- Blend Resin Grade
Global PVC Paste Resin Market, by Application
- Electrical & Electronics
- Medical & Healthcare
- Others (Including Artificial Leather, Utensils & Storage, Furniture, Agriculture, and Consumer Goods)
Global PVC Paste Resin Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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